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Got wills? A dozen reasons why
On 1/1/2008
Contributed by: Michael Robinson on 12/27/2007

From the Offices of Michael A. Robinson P.C.
Maybe you're not sure if you need a simple will, a complex will, a trust, something to protect your finances, something to protect your person, or where most people start making plans... to protect your children? In order to answer questions like these and get you started to making the plans you need, it's important for you to know where you are in life. Which of the following "stages of life" are you in?

1. Single no kids

A single person especially needs to designate people to take care of his/her person, pets, and personal effects. We can help.

2. Single with kids

A single parent caring for minor children has an especially difficult job. We can help.

3. Young married, first baby

This is when a young couple's focus has shifted from their own growth and pleasure to the care and protection of an innocent child. We can help.

4. Married, more kids, more income

This is the situation where we get people who are a little older who now have an established nuclear family. We can help.

5. Divorce

Divorce has rearranged the thoughts and dreams of both parties. We can help.

6. Empty Nesters

This is the time when the married couple has to think about their future without dependent children and also to assert their own goals and philosophy of life. We can help.

7. Married, kid marries "bum"

We get people who come in with this problem and we have been quite successful in shaping testamentary trusts to avoid estate funds falling into the wrong hands. We can help.

8. Special Needs Child

A child who is your dependent for life is what we call a special needs child. This situation usually is helped by a trust on behalf of the child. We can help.

9. Problem Child

You raised all your kids the same and all but one turned out great. This happens so often and leads parents to wonder what they did wrong. Of course, parents can't trust money to a "ne'r do well" child, but it is possible to create estate planning documents to tailor fit this situation. We can help.

10. Doc gives you the "long face"

You're never too late to make your living will. Issues such as living wills and medical powers of attorney become a dominant issue. We can help.

11. Widowed

When a spouse dies, the surviving spouse has wholly new issues to face. We can help.

12. Unmarried Couples

It is possible to craft a combination of estate documents, real estate documents, and corporate documents to handle this special needs group. We can help.

13. You're "rich" and don't know it

The IRS taxes estates whose value exceeds their exemption level. In about three and a half years, this exemption level will drop to $1,000,000. The problem is that life insurance is part of this million dollar exemption. The tax rate then will be 55%. In other words, most of your estate will go to Washington DC and not to your family. We can help. MikeRobinson.com
Michael A. Robinson P.C. 900 W. Castleton Rd. #135, Castle Rock, CO 80109 Ph. 303-688-0944




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CONTRIBUTOR INFORMATION

Michael Robinson

Castle Rock , CO

Michael Robinson has posted 421 stories and 29 comments since joining on 9/14/2005. Michael Robinson's average story rating is 4.35.
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